Bittium (BITTI) Q2 2026 earnings summary

Executive summary

• Net sales for H1 2026 increased 37.2% year-over-year to EUR 57.9 million, driven by Defence & Security segment growth and aligned with long-term strategic goals.

• Defence & Security was the main growth driver, Medical turned profitable, and Engineering Services began a turnaround.

• Record order backlog and strong cash flow provide a robust platform for future growth.

• Technology leadership reinforced by new product launches, AI integration, and strategic partnerships.

• Strategic focus on international growth and expanding Defence & Security offerings.

Financial highlights

• Q2 2026 net sales grew 60.1% year-over-year to EUR 36.6 million; H1 2026 EBITDA was EUR 12.9 million (22.3% margin), operating profit EUR 9.6 million (16.6% margin).

• Operating cash flow for H1 2026 was EUR 36.9 million, with cash and liquid assets at EUR 46.5 million.

• Order intake doubled to EUR 81 million; order backlog reached a record EUR 102.2 million.

• Dividend of EUR 0.30/share (ordinary + additional) declared.

• R&D investments for H1 2026 totaled EUR 10.3 million.

Outlook and guidance

• 2026 net sales estimated at EUR 140–155 million; operating profit EUR 26–32 million.

• Net sales and operating profit expected to be weighted toward H2 2026; timing may be influenced by large orders.

• Defence megatrend and increased European defence budgets expected to support long-term growth.